Wed Sep 11 09:13:36 UTC 2024: ## Former FTX Executive Caroline Ellison Seeks No Prison Time in Sentencing

**New York, NY** – Caroline Ellison, a former top executive at FTX and ex-girlfriend of founder Sam Bankman-Fried, is seeking no prison time at her sentencing later this month. Ellison pleaded guilty in 2022 and provided crucial testimony against Bankman-Fried at his trial last November, which led to his conviction and a 25-year prison sentence.

Ellison’s legal team cited her extensive cooperation with authorities in the aftermath of FTX’s collapse in November 2022, highlighting the Probation Department’s recommendation for no prison time. They emphasized that Ellison’s involvement in criminal activities stemmed from her relationship with Bankman-Fried and his direction, resulting in her regret and remorse.

In her testimony, Ellison revealed the extent of the fraud, disclosing how FTX investor funds were misappropriated to cover Bankman-Fried’s investment losses, extravagant spending, and charitable donations. She began cooperating with prosecutors in December 2022, providing valuable information that contributed to charges against Bankman-Fried.

Despite her significant role in the FTX scandal, Ellison’s lawyers argue that her actions were motivated by her relationship with Bankman-Fried and not by personal gain. Since her testimony, she has actively engaged in charitable work, written a novel, and worked with her parents on a math textbook. They assert that the notoriety of the case has rendered her unemployable and that her reputational harm is unlikely to dissipate soon.

Ellison’s lawyers state she is finalizing agreements with the government, FTX debtors, and a settlement in the FTX-related multidistrict litigation, leaving her with no personal financial gain from her time at Alameda.

Prosecutors are expected to file their presentence arguments before Ellison’s sentencing on September 24th.

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